Pay Off Debt Using the Debt Snowball

Hey Dave, can you please explain this to the US government

Interest First, Then Highest Balance. Highest Balance Paired with highest interest = maximum effect over the debt. The math doesn't lie. I had 11K in savings but instead of paying down and cutting my debt in half; I quit my job and lived off the minimums for 9 months. my behavior was that I invested in a business instead of saving the money. SAVE the money; THEN invest. credit card debt truly is evil and should be a last resort. before this I paid everything 100% & never overspent. It's my own fault and I'll get out. Other people have had it worse. I got this! Think it through, and don't rush anything that big. That's what I've learned.

Wish my issue was multiple debts and not unreasonable cost of living🫠🫠🫠

I'm 2k in debt lol.

Thanks for your knowledge

"You cannot build wealth in spite of a prince or princess who spends money like they're in congress."

BOOM!!

Thankful for you Dave & your team,,You inspire & Change lives.

Just paid off my second to last credit card today! Just one more!

I have a loan of total $2000 and i’m 23 yo and depressed

I AM DEBT FREEE!!! THANKS DAVE!!

Snowball has a positive effect. You can see you’re making a difference. My lowest debt was attacked and now that balance has closed.

Quick question I have about 6 grand in savings and I’m about 14 k in debt should I just bite the bulllet and completely deplete my savings to put a dent in my debt

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family

I have been following this guy for awhile and I thought he was crazy at first! But lately I have been using his tactics on snowball to erase debt and it has helped me… I’m using this technique right now as we speak and it’s working ❤️❤️❤️❤️ thank you for what you do

"One thing is still unclear about the snowball method: where should I put all my monthly expenses? Should I use my credit card or debit card?"

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family

I’m lucky because my smallest credit card debt has the highest interest so I’m doing snowball and avalanche at the same time 😂

Love this guy

Why not pay the one with the highest interest rate first

Who spends money like their in congress 😂☠️ IM BROKE TIL JANUARY! Snowballin at its finest ❤

16k in credit card debt, 25k in student loans. Gonna attack the cc first abut first save up $1000+ using baby steps. LET'S DO THIS.

I'm following his advice - just knocked out one card this month and rolling that payment into the last card - will be debt free in less than a year!

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More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

In doing the Snowball method now. I’ve been on it for 4 months. So far I am seeing results. I’m taking it one card at a time. I understand that it will take time to knock out my whole debt. I just want this debt to go away. Thank you Dave Ramsey

How much do Elon Musk or Trump make?????Would you believe I will surpass both in gold......{Federal reserve}


.smiling

how do i do this when i have emis and i need to pay those emis exact amount per month?

With Market tumbling, Inflation Soaring, Is the stock market actually getting better or could this be the regular new year market manipulation to entice new investors? I'm currently sitting on $500k inheritance and just wondering what better assets than stocks to invest in right now

Debt snowball

I do have a credit card and I have never failed to pay every month in full. I never had debt in my whole life and I am not planing on going to. Only debt I would at most consider useful is for a rental place

Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich.

It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.

It seems very discouraging at first but it’s so possible. Stop making irresponsible purchases, pay off your debts and fix your life! It’s too easy and very possible.

I teach Personal Finance using your books, Mr. Dave. I learn a lot from your teachings.

I needed so much this lecture 😂 like yes, would not blame anyone and I would be in charge of pay my debt!

Sarcastic Dave is the best Dave😂

I want to be skinny and rich! 😂😅

I owe 15k in cards and loans need help

I tried the debt avalanche I didn’t get far… it really is psychological. Did the snowball got rid of majority of my debt fast but that darn credit card won’t let up 😢 it’s the reason the avalanche didn’t work cos the credit card was the highest interest but the hardest to get rid of. I was stuck on a loop not moving.

Do i try to close my credit cards? Do I call the companies to see if they will cut down the total?

Looks like good to attend your classes but can't afford your fees even if it were on line...

For my student loans i have 2 loans with the same principal but one has a higher interest rate than the other - which should i pay first?

I’ve never screamed but this guy has helped save me soooo much trouble….i don’t scream because I talk to God

“What matters is what works how it allows you to change your life”‼️

I didn’t shave my head, but drank plenty of koolaide🤔

I wish my gf would let me sell the damn cat lmao

I'm in 30K debt... horrible feeling

Ok

Paying off 200k usd in debts
Help with btc
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Christian businessman, Dr. John Avanzini, taught the debt snowball method back in the 80's. It really works and paying off that first little debt gives you hope and momentum.